PayPal (NASDAQ:PYPL) Shares Up 1.2% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL) was up 1.2% during trading on Tuesday . The stock traded as high as $87.97 and last traded at $87.90. Approximately 1,438,577 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 12,956,824 shares. The stock had previously closed at $86.90.

Analysts Set New Price Targets

Several research firms have issued reports on PYPL. Wells Fargo & Company upped their target price on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Monness Crespi & Hardt increased their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Macquarie increased their price target on PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Oppenheimer initiated coverage on PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Fifteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $88.42.

PayPal Stock Up 1.6 %

The firm has a market cap of $88.47 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company’s 50-day simple moving average is $84.78 and its 200 day simple moving average is $73.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Research analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PYPL. Raymond James Trust N.A. grew its stake in shares of PayPal by 8.7% during the second quarter. Raymond James Trust N.A. now owns 15,771 shares of the credit services provider’s stock valued at $915,000 after buying an additional 1,258 shares during the last quarter. Checchi Capital Advisers LLC grew its position in PayPal by 3.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after acquiring an additional 184 shares during the last quarter. 1834 Investment Advisors Co. purchased a new stake in PayPal in the second quarter worth $335,000. HB Wealth Management LLC boosted its stake in shares of PayPal by 27.1% during the second quarter. HB Wealth Management LLC now owns 16,086 shares of the credit services provider’s stock valued at $933,000 after purchasing an additional 3,432 shares during the period. Finally, Arkadios Wealth Advisors grew its holdings in shares of PayPal by 85.4% in the second quarter. Arkadios Wealth Advisors now owns 48,051 shares of the credit services provider’s stock worth $2,788,000 after purchasing an additional 22,134 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.